Calumet (NASDAQ:CLMT) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Calumet (NASDAQ:CLMT) shares recently crossed above their 200-day moving average of $14.38, reaching a high of $18.66 before last trading at $18.48.
• Analysts from UBS Group have raised their price target for Calumet from $12.00 to $13.25, maintaining a "neutral" rating, while the consensus rating stands at "Moderate Buy" with an average target price of $18.71.
• In its latest earnings report, Calumet missed the earnings per share estimate, reporting a loss of ($1.70) while revenue was down 9.4% year-over-year at $1.03 billion.

Shares of Calumet, Inc. (NASDAQ:CLMT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.38 and traded as high as $18.66. Calumet shares last traded at $18.48, with a volume of 621,110 shares trading hands.

Wall Street Analyst Weigh In

Separately, UBS Group increased their price objective on shares of Calumet from $12.00 to $13.25 and gave the company a "neutral" rating in a research report on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.71.

Calumet Stock Performance

The company's fifty day moving average is $16.44 and its 200-day moving average is $14.38. The company has a market capitalization of $1.60 billion, a PE ratio of -3.54 and a beta of 0.97.

Calumet (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The oil and gas company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($1.26). The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $982.88 million. Calumet's revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.48) EPS. On average, sell-side analysts expect that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new position in Calumet in the second quarter worth about $37,000. University of Texas Texas AM Investment Management Co. raised its holdings in Calumet by 109.4% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company's stock worth $53,000 after purchasing an additional 1,750 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Calumet in the second quarter worth about $111,000. Premier Path Wealth Partners LLC raised its holdings in Calumet by 11.4% in the second quarter. Premier Path Wealth Partners LLC now owns 12,853 shares of the oil and gas company's stock worth $202,000 after purchasing an additional 1,320 shares in the last quarter. Finally, SP Asset Management LLC bought a new position in Calumet in the second quarter worth about $205,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

About Calumet

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.

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